PM Modi: India on a path of transformational change to ensure sustained economic growth

Prime Minister Narendra Modi described India as a promising opportunity amid global uncertainty. He stated that the country is undergoing significant changes to maintain its strong economic growth.

Speaking at the 3rd Kautilya Economic Conclave, Modi promised to keep implementing structural reforms to help India become a developed nation by 2047.

Modi emphasized that jobs, skills, sustainable growth, and ongoing rapid expansion are the main priorities of his administration, known as Modi 3.0.

"Today, amid a global emergency, we are here discussing about the Indian Era', this shows how the world trusts India...India is the world's fastest-growing and the 5th largest economy. In terms of fintech adoption rate, we stand as the top nation," he noted.

He stated that India is the largest manufacturer of two-wheelers and tractors, and the second-largest manufacturer of mobile phones.

Stressing that 'Reform, perform and transform' is the guiding mantra of his government, Modi said, "When the lives of people are transformed, they start believing in their country. The same then gets reflected through their mandate. The confidence of 140 crore Indians is our strength. We are committed to bringing more structural reforms for the betterment of India".

He highlighted that the "inclusive spirit" is an important part of India's growth story, meaning that growth is happening alongside inclusion. As a result, he noted that 25 crore people have escaped poverty in the past 10 years.

While listing his government's achievements, Modi mentioned that they have strengthened the banking system, implemented GST, introduced the Insolvency and Bankruptcy Code, opened the mining and defense sectors to private investment, liberalized foreign direct investment (FDI), and reduced compliance burdens.